Dongbu Construction Secures Consecutive Public and Private Orders... 3rd Quarter Order Backlog at 8.6 Trillion Won

Dongbu Construction announced on the 1st that it has consecutively achieved contract wins in both the public and private sectors by the end of the year.

Perspective view of East Coast Mangsang Global Resort District 2 / Image courtesy of Dongbu Construction

First, the implementation plan approval for the 'Donghaean Economic Free Zone Mangsang Global Resort District 2' development project, which was contracted in 2021, has been completed. This comes about a year after the implementation plan approval for District 3, which was also contracted, was completed in December last year. The total construction scale is 636 billion KRW, and Dongbu Construction will build tourist and leisure facilities, officetels, exhibition facilities, and more on a 364,960㎡ site.

In the public construction sector, Dongbu Construction won the contract for the 'Jeongnimjung~Sajeonggyo Road Construction Project' worth 57 billion KRW, ordered by the Public Procurement Service. This project involves constructing a total 2.4 km road including three bridges each 270 meters long and one tunnel 980 meters long in the Jeongnim-dong area of Seo-gu and Sajeong-dong area of Jung-gu, Daejeon. The construction period is about four years from the start date, and Dongbu Construction is the lead contractor with a 53% stake.

Additionally, Dongbu Construction secured the 36.4 billion KRW 'Seoul National University College of Social Sciences Building 16 Remodeling and Korea Economic Innovation Center Expansion and Renovation Project' commissioned by Seoul National University. The project involves remodeling Building 16 of the College of Social Sciences on the Gwanak campus and expanding and renovating the Korea Economic Innovation Center, which spans from one basement floor to six above-ground floors. The construction period is about four years and five months from the start date, with Dongbu Construction as the lead contractor holding an 80% stake. Furthermore, the company recently won the integrated private participation public housing construction projects for Hwaseong Dongtan 2 C-14 Block and Namyangju Wangsuk A-16 Block as part of a consortium.

Dongbu Construction stated that it has secured stable work by winning approximately 525 billion KRW worth of public construction contracts. It is also steadily achieving contract wins in overseas projects and the industrial plant sector. As of the third quarter of this year, Dongbu Construction’s order backlog stands at about 8.6 trillion KRW.

A Dongbu Construction official said, "Along with stable contract wins in the public construction sector, we are actively conducting sales activities targeting highly profitable projects," adding, "We will focus our sales capabilities for the remainder of this year to secure more contract volume."